Shiseido is aiming to strengthen its cosmetics business in the Phillippines with the establishment of a new joint venture, Shiseido Philippines Corporation.
Shiseido Asia Pacific Pte. Ltd. has reportedly signed a contract which forms a partnership with Luxasia Partners Pte. Ltd., a company headquartered in Singapore that runs a beauty and luxury distribution business in Asia. The new company is expected to begin operations in July 2019. The majority stake will be held by Shiseido Asia Pacific.
According to Shiseido, the newly established Shiseido Philippines will sell products from all of Shiseido’s business categories across prestige, fragrance, cosmetics and personal care to accelerate investments in marketing and increase sales.